Preferential Assessment Programs

Aside from the homestead exemptions, the Illinois Property Tax Code provides for preferential treatment in the assessment process for property meeting certain criteria. The following is brief description of some of the common preferential assessment programs.

Benefit: Under the Housing Choice Voucher (HCV) Tax Abatement Saving Program, Landlord-Owners, who lease a unit to a HCV holder in a designated Housing Opportunity Area, are eligible to receive up to a 19% reduction in the Equalized Assessed Valuation
(EAV) of their property for qualified leased unit.

For Fraternal and Veterans' Organizations

Program Name: Fraternal Organizations Assessment Freeze

A property owned and used by a fraternal organization chartered by the State of Illinois prior to 1900, or its subordinate organization or entity that is an exempt entity under Section 501(c)(10) of the Internal Revenue Code. Typically, Masonic
Lodges will qualify in this category.

Or, a property owned and used by a fraternal organization that on December 31, 1926 had its national headquarters in Illinois or that was chartered in Illinois in February 1898, or its subordinate organization or entity, that is exempt under Section
501(c)(8) of the Internal Revenue Code. Typically, Elks and Moose Lodges will qualify in this category.

Or property owned and used by a fraternal organization or its affiliated Illinois not for profit corporation chartered prior to 1920 that is an exempt entity under Section 501(c)(2), 501(c)(8) or 501(c)(10) of the Internal Revenue Code. Typically,
Knights of Columbus Lodges will qualify in this category. File a
PTAX-766.

Where Do I Apply? Supervisor of Assessment Office

Application Process:

The file PTAX-766 by December 31 of each assessment year for which that assessment is desired.

Failure to make a timely filing in any assessment year constitutes a waiver of the right to benefit for that assessment year.

If approved, assessment reduction is grated by Board of Review.

Renewal Process: Annual Application Required

Benefit: The organization assessment freeze allows certain fraternal organizations to elect to freeze the assessed value of the real property it owns and on which is located the principle building of the organization. The assessed value is frozen
at 15% of the assessed value of the property for the tax year that the property first qualifies.

Program Name: Veterans Organization Assessment Freeze

Qualification Criteria: Property owned and used by a veterans organization chartered under federal law.

Where Do I Apply? Supervisor of Assessment Office

Application Process: File a
PTAX-763 by December 31 of each assessment year for which that assessment is desired. The initial application must include:

A copy of the organization's congressional charter.

A copy of the organization's articles of incorporation.

The location or description of the property on which is located the principal building for the post, camp, or chapter.

A written instrument evidencing that the organization is the record owner or has a legal or equitable interest in the property.

An affidavit that the organization is liable for paying the real property taxes on the property, and

The signature of the organization's chief presiding officer.

Failure to make a timely filing in any assessment year constitutes a waiver of the right to benefit for that assessment year.

If approved, assessment reduction is grated by Board of Review.

Renewal Process: Subsequent applications shall include a
PTAX-763 signed by the organization's chief presiding officer along with a written description of any changes in the initial application.

Benefit: The organization assessment freeze allows qualified veterans organizations, chartered under federal law, to elect to freeze the assessed value of the real property it owns and on which is located the principle building of the for the post,
camp, chapter, or organization. The assessed value is frozen at 15% of the assessed value of the property for the tax year that the property first qualifies.

Renewal Process: The exemption remains in place for eleven years, including a three-year phase-in period, assuming there is not a change in ownership. On the twelfth year under this program, the assessment reverts to a fair cash assessment.

For Owners of Vacant or Underdeveloped Land

Program Name: Conservation Easement Preferential Assessment

Qualification Criteria: Property encumbered by a conservation right certified by the Illinois Department meeting at least one of the following requirements:

Land providing a regular opportunity for public access to outdoor recreation or outdoor education.

Land preserving habitat for State or federal endangered or threatened species or federal candidate species as defined in the Code of Federal Regulations (50 CFR 424.02).

Land identified in the Illinois Natural Areas Inventory.

Land determined to be eligible for registration under Section 16 of the Illinois Natural Areas Preservation Act.

Land contributing to the ecological viability of a park, conservation area, nature preserve, or other high quality native terrestrial or aquatic area that is publicly owned or otherwise protected.

Land included in, or consistent with a federal, State, regional, or local government policy or plan for the conservation of wildlife habitat or open space, for the restoration or protection of lakes and streams, or for the protection of scenic
areas.

Program Name: Farmland Assessment

Qualification Criteria: Land used solely as a farm in the current assessment year and for the 2 preceding years. Farm use includes:

The growing and harvesting of crops;

For the feeding, breeding and management of livestock;

Land which is primarily used for residential purposes even though some farm products may be grown or farm animals bred or fed on the property incidental to its primary use does not qualify for the preferential farm assessment.

Promotes conservation of soil, wetlands, beaches, or marshes, including ground cover or planted perennial grasses, trees and shrubs and other natural perennial growth, and including any body of water, whether man-made or natural,

Conserves landscaped areas, such as public or private golf courses,

Enhances the value to the public of abutting or neighboring parks, forests, wildlife preserves, nature reservations, sanctuaries, or other open spaces, or preserves historic sites.

Land is not considered used for open space purposes if it is used primarily for residential purposes.

Where Do I Apply? Supervisor of Assessments Office

Application Process: File a
PTAX-334 by June 30 of each year for which that valuation is desired.

Renewal Process: Annual Reapplication Required. If the property is placed into a different use, the property owner is required to notify the Supervisor of Assessments. Failure to make a timely filing in any assessment year constitutes a waiver of
the right to benefit for that assessment year

Benefit: The subject property is assessed base upon the value property in DuPage County typically sells for if it remains in an open space use.